“There were a lot of people who missed out on the chance to buy in 2020 and 2021, with migration rising, there’s a fear they will miss out again.” - Rich Harvey (PropertyBuyer director)

What your home will be worth in 2028:

every suburb revealed:

Home prices in parts of greater Brisbane are forecast to climb by more than 70 per cent in the next five years. Ipswich region and Brisbane's west, led by Churchill, where the median sale price is predicted to jump from $450,000 to $779,000 by 2028. Bellbowrie is tipped to increase 71 per cent to $1.55m in five years, followed by Newtown, where median is set to grow to $959,000. The Gold and Sunshine Coast’s median home prices would surpass $1m by 20 28, assuming values were to grow at the same pace as the past 5 years.

There was also tremendous existing wealth in the housing market due to previous market booms, which meant some homeowners were sitting on big stockpiles of equity they could use to bid up prices on their next home purchase.

“These buyers wouldn’t be as affected by interest rate rises because they don’t need to take out big loans,” Mr Ryan said, noting some of the most active buyers in the current market were only borrowing 50 per cent of the value of their properties.

“We are clearly not building enough housing to meet demand and market conditions are making it difficult for developers to get the rate of new building up,” he said.

Buyer’s agent and PropertyBuyer director Rich Harvey said home seekers were growing wary of the affect of rising migration on prices and a fear of missing out was returning to the market.

“There were a lot of people who missed out on the chance to buy in 2020 and 2021,” he said. “With migration rising, there’s a fear they will miss out again.”

Read the Daily Telegraph Article (LINK HERE)